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<br />88_104510
<br />
<br />more than nfle'en (151 days in arrears 10 "'o\'l:r the C\1r<1 C\pcnsc
<br />involved in handling delinquent paymenl".
<br />
<br />Borrower and Lender co\'enant and agree as follows:
<br />
<br />J. That Borrower will pay the indebtedness. as hereinbefore
<br />provided. Pri\'i1ege is reserved 10 pay the debt in whole or in part
<br />on any installmenl due date.
<br />
<br />1. Thai. logether with. and in addilion to, the: monthl~
<br />payments of principal and interest payable under the lerms of the
<br />DOle secured hereby, rhe Borrower will pa~ 10 tht' l.ender. on 111L
<br />first day of each month untillhe said nolt: is full) paid. lhe
<br />following sums:
<br />
<br />~:ufmirIlllaXDqXJDi~:k~
<br />_lllI~~
<br />><:kooIlIIZ. . .
<br />~~~
<br />~~"'"
<br />
<br />1IPIfalII<k""Im~~
<br />. . " . K
<br />~~xm:XIIlJIIIlIlO6lIIf~
<br />llIcDt;b(~IIlDCllltl<~~JtIlO(lirll<JinmxtK
<br />lCKllIliIIIlItiamlll_iIIxKiIrDIxIloo~
<br />~~IlIlI>SGnIlII~~
<br />ltlGX>DBnlJlJllllIIClICpllIXIII_x~l<lmrJiJrtK:KlmcU<
<br />"""""IilKIaJaI:XJIIlIIiaIldldlzpaJbljalmJbemamtllocJm
<br />
<br />>Cldj:>lk1llllkx>clmlpx"",hmoxJlXXOlKO:KkXIKOc~
<br />~~ic:klloxKDll}<=xkW~
<br />_lIJIIllllIJ!K~~~
<br />lUQIl4lt<IIlII!t*_lIlIlllICllIIlIOOI>OllIlDIIlllloPClJllQGlQUfX
<br />~~
<br />>l:kl<XlllllllCllJllll~P::iIx""""""--_""""
<br />>qXIIpIlIlmIIll
<br />
<br />(a) 11M A 'turn C4UdllO the grllund n.'l1t.., If .Jn~. IlL'\[ dUL'. rlu.. IhL'
<br />rrC'mium~ Ihal \\ 111 1ll"\1 hecome duc: and pa~ahh.. 1'" J"!,lll,'IL'" \,11
<br />fire and other ha,.nd m..ur.lI1l.:c.' ~l.l\cf1nl! IhL' pn.,lrt'r1~. rlu.. 1.:.1\1,.'"
<br />and auC'~!Iment~ ne\t Jut.' un lhe prL'lrert) (.lil J~ ,...lUna/I.'oJ /1\ Jill.'
<br />Lend.:r) less all !Iumll alrea~h paid Ihcrdor JI\ IdeLl I:l\ the: tlUIllI:lL'1
<br />of momhs to dar~e helmL' ('me (II IIH.1Olh pnm tu tht' J.lIl." \\ hell
<br />!Iuch ground u:nh. pn:mlum,.,. ta\e!t> and a....e....mcm.. \\111 1"11....."1111..
<br />delinquent. su~h !Ium!t> In PI.' lu:ld t'1~ Lt'l1der 111 HU..I ILl r;l~ ..aId
<br />ground rent!!, preITIlUnll" la'!:!! ami ..pCL'llIl a!'..c....rnl.'l11... and
<br />
<br />(b) II All pa~mc:llI.. mentIoned 111 thL' I'h' rre..'cl.hl1~ ..Uh..C,'IWlh Ll1
<br />thl!! paral!raph and all paymenl!! h.l bt' mad(' Undl."T IhL" 11mI.'
<br />!I~,~ured hcre"~ "hall t'1e added tL'~~e:lher. ~tnd lilt' .I!!P('l!iJlt' aTlll'UllI
<br />thcrl.'uf !Ihalll1L' paid h) the: BorTl'\\t'r L'a...h IThllllh 111 J "1Jl~!t' p.I\'
<br />mel1t 10 be applied h) the lcnd.:r 10 the: I01l11\'lI1g IIL'II1" 111 Ihl.'
<br />order !!lei forth;
<br />
<br />XltJC~~~:KWtm<
<br />><:kodil~li;llJrUnt~JOJm:lClItXlllDbbt
<br />":Dllcnill)/icx~~~
<br />lixx
<br />
<br />(I) &> ground rrnl!t>. ta\e". a....e!t>!t>ment... fire and l'lhL'r h:uard
<br />1I1surllnce premiums:
<br />
<br />(II) _ intc:re"l on thL' nl'lc: "e~urcd held'l\;
<br />
<br />(III) n amortization of the: prm~lpal 01 ...uJ IILlIl.'; JIlJ
<br />
<br />(IV) .. laIC charge>.
<br />
<br />An)' deficiency in the amOUnl of ~u~h agg.regate mOl1lbl~ r.J~-
<br />melll shall. unJe"~ made good b~ the Borro\'er prior il' thc: due
<br />dale of the ne:\! !luch payment" constilute: an t'\c:nt of default
<br />under thi~ mongagc. The lender ma) collecl a "Iale ~harge" rWI
<br />10 eKceed four crnt!. 14C) for each dollar ISlI of each payment
<br />
<br />3. That if the 10lal or Ihe payments made by Ihe Borrower
<br />under(a)of paragraph :! pre~eding shalll."\cl.'Cd lhe amounl of
<br />paymcm!l actually made by (he lender for ground rcnb. la:\c!'l ilnd
<br />assessments or imuranee premiums. a~ Ihe cme mil~ be. such ex-
<br />ee:-~. if Ihe loan i~ \,:urrent. aI Ihe- oplion of Ihe Rorro\\cr. ..hall he
<br />crediled by the lender on ,.,ubscque:nt paymel1ls ILl be made by Ihe
<br />Borro\\cr. or refunded to Ihe Bornmer. If. hO\\L'\er. 11lL' Il1l.lnlhh
<br />payments made by Ihe Borro\\c:r under (a)ur pmilgrarh :! -
<br />J'lr..ceding shall nOI he !!uffiL'iel1l III pay gmund rl.'I1(o,. 1.1\t''' and
<br />a!.!lessme:nlS or insuralll..'c premIUm... a.. IhL' ..>a..t.' nl.l~ "L'. \\hcll lhe
<br />!'lame ..hall heeome due: and payabk. Ihen Ihc Burto\\\,'r ..hall pa~
<br />III Ihe lender any amount neee!.sary to Illill.e up Ihc I.kfh:lL'n..'Y. \ltl
<br />or before lhe dalL' "he:n payment llr ..ueh ground r~'nl... la\I.".
<br />.J....L.....mt'n!!l. or lIl..uranl.'c prl:mlllm~ ..hall hc duc. II .11 .111\ Im1C
<br />IhL' Burrlmer .,hall tt"nder IOlht" Lender. IJ1 iI~~l)fd.tlh':L' '\Ilh thl,.'
<br />pru\l!'lions of the: nOlI." ~e"url:d he:rl:h~, full pil\mL'nt \11 tl1~' L'n1..e
<br />mdehh:dne~~ r~pre"e'ntf'd Ihl:rt:l1~. Ihl:: L ell~Jt'r ..hill!. III l..l,mpullni;
<br />lilt: aln(lunt 01 ~uch Uldeblcdne..... I..'fedil II.' IhL' .J~l.'\.lUIll of Ih~' Bor-
<br />rU\\t'r~~X~
<br />- . . :m<1IltlX~
<br />~~XDtJ an~ l1alan...cT('
<br />lllamlllg III IhL' lund.. i1...~ulllul;IICd undel thl,.' ph1\ 1..llm.. Ill( a) ,,1
<br />par,agraph ~ ht:rL'ol. If IhL'rc ,hall fll.' 01 dl,.'lolUIt llllJl.'1 .111\ 1'1 I ilL'
<br />rrl.l\hlon.. \Jf 1111" IINrut11L'11l IL'''UItIl1~ 1II.t rul1h.. ..,II,' III IIIL'
<br />prel11l!le.. co\C'rcd 11I.'rl:\'1~. ,'I' 11 Ihl.' lenJ,'1 ;l1..4UlfL'\ Ihl' pIL11'I.'''\
<br />l'lht:r\\I"L' aflt'T JcfilUIt. rhL' I cnJI.'! ..h311 aprl~..I1 thl.' lllll,' II! lilL'
<br />..'111111l1L'11~t'ml..11t 01 "Ul.'h plll"'I."t:..trn~... "T ;JI thL' 11111,' Ihl.' 1'1"1'1.'11\ I"
<br />1'lhL'r\\I'.I.' al.'4UHcd. Ih.: b;JI;JIIl.'I.' Ihcn Icmolmlll~ 1Il I hI.' IUlIJ.. 01...
<br />1..tIlTlUlaI,'d under (a)I.'1 pal.t~'aph : prL'l..eLhll~. .1" ,I ..rL'l.iTI .Ig.llll":
<br />1 Ill' oll1hlUTll ul pruh.lpalthl.'ll rL'molllllll~ Ulll',.IIJ ullJl'1 ...IIJ Ihlll.'..
<br />_~~_:moI,,~It:t:xvoax:l<'"
<br />_1IIlOOOt_>Pl>OO<
<br />
<br />.J. 1 h.11 [tlL' !i\IThl\\l.'r ~11I1 p.l\ !-,"'UIIJ Il'IlI... 1.1"". .1....I......IIII.lIt...
<br />\\JICI l.tlL.... .1I11J lllhL'1 ~1'\L"l1l11l,.'lllolIIH I\IUIIl..lp,11 ,h.Il~I.'''' 11111.....
<br />,11 1l11l'll"IIl\ln". IIH uhl..h 1'1.1\1"1,111 h.I" l11H "1.'L'n lll.tJ~'
<br />hL'It'llll1l."1llIl.". .1111.1 III JdolUll 1 hl.'lt.,11 Ih,' II."nJL'1 11101\ 1'''\ 11lL' ...IIl1....
<br />,1Il~llh.ll Iht' Ul'"l'\ll.'l "III 1'1,lmp,l\ J,'II'L'1 1 hI.' IIIIt..'1.111.....I.'II"I..
<br />[11':11."1111 11' IhL" Il'nJt'l
<br />
<br />~ rhl.' H~'"\l\lL'1 \\111 P:l\ 0111 [.1\1.'" LLlll..h Ill.!' ~I.. 1,'lWJ Llp,llI
<br />tht" I L'nJ"f'.. 11111,.'11:..1 III ...11..1 IColI 1,."10111.' olllJ II1IPh"...!t1"IlI... .tIlJ
<br />IlIII..'11 Ina~ "L' Il"'I..J uI'I.'1l thl" IIl..lfulll,'nl III Ihl.' Jd'l "I.'.. ul 1.',1
<br />hl.'IL"~\ 1l1UI 1.1111\ It. Ihc I,.'\lelll Ih.!l ..LJ..h I" 11.11 rlll!l1t">11L'J !,>, 1.1\\
<br />.Il1d 11nl~ 1\,) Ih," l'\I~'111 II1i11 ..th.:h \\lUlhll 1Il.!l-1: Illl" h'.Ill U"UIIo'II"1.
<br />bUI C:'l.l.-ludlOg .In, IIld'Olr 1;1\. "I.tll." 1'1 Il'J"!JI. Illl{'.,.....J ,'1\
<br />1"11..1,'1. .Illd \\111 flit- Ih.: 11111..'1.11 I t:.. 1.'1)11 -IH'\\IIlJ.' ,,"..11 11.1\111,.11'
<br />\\lllL 1111' I ~ndl.'r l rlll1 \1"I.tlll11l ,11 1111" 1111JL'f~.I~IlIj!. ,'1 J1 !h,
<br />HlIIl\l\lL'1 '" prl1hll:1111."J 11~ ollH 1.1\\ 111'\\ l'l h,'f~'.III"1 1'\I-:lIlf 11,'111
<br />p"~lIl!,! rhe whole or dn\ P"flll.lI1 01 I hI.' .I!tlfC....IJ 1.1'...... liT UPI\ll
<br />1111,' 1t"lldt"flUg 01 an~ ..'"IIHt Jt'l..'rCL' pl'lhl~l1lO~ lhl.' p;J\I1II.'11I P\ Ihe
<br />BlIHll\\t:1 of an) '!lu~:h I4n,c". Of II "Ud1 loSll ,II dL"....I."\.. Pll1\IJI.... Ih.ll
<br />,Ull amount ..0 paid 11~ Ihl.' H,'II\l\lef ..h._Ill ~I.' dl."Lll~,'J till lh~' JI.'!"l
<br />1111.' I I."nder ..hdll h;J\l' Ihe: rtftll IL' gl\~" l!lnCI\ J.lh' 1\l11l,'1I Ihlll..L'
<br />I.' Ih..' l'"ner LIt 111(' pr<'ItlI..t..... fI"I.JUUII1J! IhL' pJ~IIh."111 ,.1 Ih..' Jd'l
<br />If ..u.:h nOlle," br cnen. !t1L' "olld d""1 ..holll 1"'.1'011.' JUL'. 1".1 \.1 1-11t..
<br />and ~ol1eetJbh: ..I ~hL' 1.'\rlTalll'11 01 "did nlllL'l~ ..1.1'"
<br />
<br />n, Thai I"hould IhL" Borro"t'r rail III rd~ ;,In) ,um ,II l-L'I.'P .tn\
<br />~o'cnanl pro\lded lor 10 Ihi!! imlfumt:nl. Ihen Il1l' Il'nJef. al II"
<br />Llrlll'". ma~ ra~ 01 pL'rform the ..ame. .Iud ..1l1.'\rL'lIJIIUIL''' ,.'
<br />
<br />Page 2 01 !5
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<br />HUD-921430T
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